PRICE REDUCED. Formerly known as the Rathbone Retirement Community, owners ceased assisted living operations as of September 1st and offer the property for sale ready for apartment conversion. The building contains 58 units on 2 stories in the original section constructed in 1869 and a large addition completed in 1985. The units are a mix of studio, one and two bedrooms each with individual kitchen and baths. Each unit is separately metered and has their own package HVAC making it ready to rent as standard apartments or senior housing. The grounds are meticulously landscaped and the site has several large mature hardwood trees that shade the building and grounds and provide a very attractive appearance. The Rathbone property includes many common amenities including a full commercial kitchen and dining room, laundry room, library, recreation room, and a hair salon. The property has a large basement and attic that along with the common areas and rear courtyard could be areas for future expansion. The property is offered with all FF&E including lawn care equipment and commercial kitchen.

Key Points: Beautifully maintained property inside and out Units already separately metered Anchor of downtown historic district

Built: 1869

Units: 58

The Property is For Sale

Asking Price: $1,900,000

Building Size: 56,527 SQ FT

Lot Size: 117612

Cost per Square Foot: $33.61

1320 SE Second Street
Evansville, Indiana 47713
United States

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SVN | The Martin Group Inc
Scott Edmond

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